Gladstone Investment (NASDAQ:GAIN) Raised to “Buy” at B. Riley Financial

Gladstone Investment (NASDAQ:GAIN) was upgraded by B. Riley Financial from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The firm presently has a $16.50 target price on the investment management company’s stock, up from their previous target price of $14.50. B. Riley Financial’s target price would indicate a potential upside of 0.55% from the company’s current price.

GAIN has been the topic of a number of other research reports. Zacks Research upgraded Gladstone Investment from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Wall Street Zen upgraded Gladstone Investment from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Gladstone Investment in a report on Friday, March 27th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Gladstone Investment has an average rating of “Moderate Buy” and an average target price of $16.75.

Gladstone Investment Price Performance

Shares of NASDAQ:GAIN opened at $16.41 on Thursday. Gladstone Investment has a 1 year low of $13.11 and a 1 year high of $17.14. The company has a market cap of $653.48 million, a PE ratio of 3.50 and a beta of 0.81. The stock’s 50-day moving average is $15.10 and its 200 day moving average is $14.31.

Gladstone Investment (NASDAQ:GAIN) last announced its quarterly earnings results on Tuesday, May 12th. The investment management company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). Gladstone Investment had a net margin of 186.47% and a return on equity of 6.05%. The business had revenue of $25.19 million for the quarter, compared to analysts’ expectations of $25.80 million. Analysts expect that Gladstone Investment will post 0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Kestra Advisory Services LLC purchased a new position in shares of Gladstone Investment during the 4th quarter worth approximately $26,000. International Assets Investment Management LLC bought a new stake in shares of Gladstone Investment in the 4th quarter worth approximately $31,000. JPMorgan Chase & Co. boosted its position in shares of Gladstone Investment by 960.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,304 shares of the investment management company’s stock worth $76,000 after purchasing an additional 4,804 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Gladstone Investment in the 2nd quarter worth approximately $105,000. Finally, Bank of America Corp DE boosted its position in shares of Gladstone Investment by 272.1% in the 3rd quarter. Bank of America Corp DE now owns 8,946 shares of the investment management company’s stock worth $124,000 after purchasing an additional 6,542 shares in the last quarter. Hedge funds and other institutional investors own 11.85% of the company’s stock.

About Gladstone Investment

Gladstone Investment (NASDAQ: GAIN) is a publicly traded business development company (BDC) that focuses on providing debt and equity financing to U.S. middle-market companies. As an externally managed closed-end fund, Gladstone Investment seeks to generate current income and capital appreciation for its shareholders by originating senior secured debt, subordinated debt and equity investments. The firm typically targets established businesses with revenues between $10 million and $150 million, across a range of industry sectors including business services, health care, industrials and specialty manufacturing.

The company’s investment strategy centers on deploying capital through first-lien and second-lien term loans, mezzanine debt and equity co-investments, often including warrants or other equity kickers.